This is a legacy page. Please click here to view the latest version.
Fri 16 Nov 2018, 09:21 GMT

Date set for Aegean final basis motions to be heard


US court to hear motions on December 4.


Image credit: Pixabay
The US court handling the bankruptcy case involving marine fuel and lubricants specialist Aegean Marine Petroleum Network Inc has confirmed that it will hear a number of motions on a final basis on December 4.

The list of motions for entry of interim and final orders has been provided below.

1. Cash Management Motion

Aegean seeks approval to operate its cash management system, maintain existing bank accounts and continue to perform intercompany transactions. The motion was previously approved on an interim basis.

2. Hedging Motion

Aegean aims to get the court's consent to continue pre-petition hedging practices, commence post-petition hedging practices, grant superpriority claims on account of the post-petition hedging obligations, pay pre-petition hedging obligations and grant related relief.

3. Insurance Motion

Aegean aims to get the court's permission to continue pre-petition insurance coverage and surety bonds; renew and enter into new insurance policies and surety bonds; and continue to pay brokerage fees.

4. Taxes Motion

Aegean seeks authorization to pay certain taxes and fees.

5. Wages Motion

At a previous hearing on November 8, Aegean was authorized, on an interim basis, to pay an amount not exceeding $4.75m to cover compensation and withholding obligations (including $3.75m in unpaid wages); benefits and entitlements; and other employee benefits;

6. Vendor Motion

Aegean was previously given the go-ahead, on a provisional basis, to pay foreign claims up to $3m; lien claims up to $4.3m; 503(b) claims up to $11.1m; and HSE and other claims in the ordinary course of business.

7. Creditor Matrix Motion

Aegean seeks authorization to file a consolidated list of its creditors - instead of filing separate mailing matrices and creditor lists for each debtor business, and also wants to file a consolidated list of its largest 30 unsecured creditors.

Additionally, the court noted that it could also hear the Utilities Motion either on December 4 or at a future date.

In the Utilities Motion, Aegean is seeking an order to approve its proposed assurance of payment for utility services; and it also aims to prohibit utility providers from altering, refusing, or discontinuing services.

Objections, if any, to the motions must be served on or before November 27.


GENA Clean ammonia project pipeline chart, February 2026. Clean ammonia project pipeline reaches 145 MMT by 2034, but delivery concerns mount  

GENA Solutions reports 325 tracked projects, though over 70 have been frozen in 20 months.

Peninsula logo. Peninsula highlights supply chain strength amid Strait of Hormuz closure  

Marine fuel seller emphasises reliability as geopolitical disruption reshapes global bunker markets.

European Union member state flags. World Shipping Council backs EU maritime strategies but calls for faster trade simplification  

Industry body supports port security and decarbonisation measures while urging action on customs barriers.

Luke McEwen, Technical Director at Anemoi Marine Technologies. Anemoi and Lloyd’s Register call for unified approach to wind propulsion performance verification  

Anemoi Marine Technologies and Lloyd’s Register publish paper advocating alignment of verification methodologies.

Smyril Line's methanol-ready ro-ro following launch at its Longkou construction base in China in February 2026. Smyril Line's methanol-ready ro-ro launched in China  

First of two 3,300 lane-metre vessels floated out for Faroese operator.

Screenshot from ICS webinar exploring a regulatory framework for nuclear-powered merchant ships. ICS webinar explores regulatory framework for nuclear-powered merchant ships  

Industry experts discuss the timeline and challenges for adopting nuclear propulsion in the commercial shipping sector.

Hiring concept with puzzle pieces and a magnifying glass. Oilmar DMCC seeks senior bunker trader for Dubai office  

Dubai-based energy trader recruiting for Middle East, Indian subcontinent and Africa trade flows.

Typewriter job application. Oilmar DMCC seeks bunker traders for Singapore office  

Dubai-based trader recruiting mid-level and senior professionals to expand Asia-Pacific marine fuels operations.

Section of the front cover of ClassNK's updated guidance on the EU ETS for shipping. ClassNK updates EU shipping emissions guidance for LNG-fuelled vessels  

Japanese classification society releases revised FAQs addressing methane slip measurement procedures.

CMA CGM Monte Cristo vessel. Bureau Veritas delivers first 15,000-teu methanol dual-fuel container ship for CMA CGM  

Classification society completes delivery of CMA CGM Monte Cristo built by DSIC Tianjin.


↑  Back to Top